# In the matter of Reliance Innoventures Private Limited

> NCLT judgment dated 2023-06-16. Citation: TCN-2023-NCLT-05443. The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.

- **Court:** NCLT
- **Order date:** 16 Jun 2023
- **Citation:** TCN-2023-NCLT-05443
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/reliance-innoventures-private-limited-5e8ceaf7

## Summary

### Background

The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.

## Facts

Axis Trustee Services Limited filed a petition against Reliance Innoventures Private Limited.

The Corporate Debtor, Reliance Innoventures Private Limited, is already undergoing CIRP.

Another Company Petition bearing CP/IB/No.1154/MB-V/2020 has an admission order dated 15.06.2023.

The present Company Petition and all pending applications are disposed of as infructuous.

The petitioner is granted liberty to put forth their claim before the IRP.

## Issues and analysis

### Issue 1: Whether the present Company Petition should be disposed of as infructuous given that the Corporate …

**Ratio:** The court considered the fact that the Corporate Debtor is already undergoing CIRP under

…

**Reasoning:** Since the Corporate Debtor is already undergoing CIRP, the present petition becomes

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**Interpretation:** The court interpreted that initiating another CIRP for the same Corporate

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**Application:** The court applied this understanding to dispose of the present petition as

…

## Parties

- **Judges:** H.V. Subb…; Madhu S…
- **Appellants:** Axis Trustee…
- **Respondents:** Reliance Innoventu…
- **Advocates:** Suchitra…; Mufaddal Pa…

## Timeline

- **16.06.2023 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **15.06.2023 — Admission Ord…**: Admission order date of another Company…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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